SIBEX, the developer of the peer to peer protocol that creates new arbitrage opportunities for institutional traders while eliminating the issues that exist with current OTC markets, announced on Friday it has partnered with Paxos to distribute PAX Gold, an asset-backed digital token.
“Recognizing that gold is a difficult asset to invest in and hold, SIBEX is making it easy for investors by offering PAX Gold. Clients can now hedge themselves against the volatility of other digital assets, while offering a regulated investment tool and exposure into gold assets.”
While sharing more details about the partnership, Daniel Haudenschild, CEO of SIBEX, stated:
“As a regulated and established player in the finance space, PAXOS has been instrumental in the democratization of the industry, and we are aligned in our mission to limit barriers to entry within the digital assets space. We are always looking for ways to expand and diversify our service offerings, so it was a natural progression for SIBEX to expand towards gold as an investment.”
Walter Hessert, Corporate Strategy Lead of Paxos, went on to add:
“PAX Gold offers real ownership of the highest quality physical gold in the world. We’re excited that PAX Gold is now available on SIBEX, making it easier for even more people to own the world’s leading gold token.”
SIBEX describes itself as a non-custodial decentralized OTC marketplace. The platform reported that it solves issues such as front-running and reduces the trading cost of capital by providing an institutional-grade dark venue for digital asset procurement and liquidation by enabling cross-chain transactions.